FFIEC News

Comodo Two Factor Authentication Emerging as a Disruptive Technology to Address FFIEC Requirements

(May 04, 2007)--Comodo, a global Certification Authority and provider of Identity and Trust Assurance Management solutions, announced that Comodo TF continues to receive widespread adoption by financial institutions as a disruptive technology solution changing the future of the authentication industry. Comodo meets the criteria presented in the three-point Christensen Disruptive Technology test - 1) being inexpensive, 2) technologically simple and 3) a technology that doesn't require replacement of existing systems. This PKI-based authentication solution provides groundbreaking improvements to solve the FFIEC-preferred two-factor solution easily for financial institutions without costly deployment or customer adoption challenges.

The challenge for many mid-sized institutions is to deploy a compliant, secure, yet customer-friendly authentication solution that can accommodate a wide variety of networking architectures from back-office infrastructure to web-hosting service providers.

The solutions that service providers typically offer their customers relied on first generation technologies which could be unreliable (e.g. cookies), difficult for customers to use (e.g. matrix cards) and/ or expensive to deploy (e.g. tokens). Therefore, as institutions understand the value of a seamless digital certificate solution, many financial institutions and service providers are adopting Comodo TF to take advantage of the security and configurability of a Public Key Infrastructure (PKI) solution.

Comodo TF adoption is being driven by its user-friendly interface, ease of deployment, ease of customer adoption and inexpensive cost model. This presents a significant improvement in authentication performance substantially altering the competitive landscape. Comodo TF delivers on key performance milestones:

Continuous, secure and authenticated online financial interactions through a PKI- based solution well-recognized for high performance and security. This solution provides a mutual authentication solution for any regulatory-intensive industry such as healthcare, insurance, education and government agencies.

Bringing the power of the PKI platform to a regulatory intensive business community, creating a low-cost and highly flexible solution that scales effortlessly.

Advances in authentication technology that could extend the institutions' ability to provide additional services and features.

Quantum leap in customer adoption since it doesn't require customers to alter their banking behavior once their Digital-ID has been created. Users can simply continue to use their existing usernames and passwords.

"Working with our partners in the financial sectors, Comodo has been creating a new level of performance and ease of deployment in authentication that is unmatched by more traditional solutions," says Melih Abdulhayoglu, CEO and Chief Security Architect of Comodo. "As customers begin to deploy authentication solutions, customers and service providers are taking a new look at Comodo's PKI approach. Comodo TF, as a second generation solution, presents measurable advantages with an increased ROI over existing approaches."

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